Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Ranch Capital Advisors Inc.

Ranch Capital Advisors Inc. reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,860 shares of the company’s stock after selling 281 shares during the period. Cardinal Health comprises approximately 1.1% of Ranch Capital Advisors Inc.’s holdings, making the stock its 24th biggest position. Ranch Capital Advisors Inc.’s holdings in Cardinal Health were worth $2,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of CAH. Cambridge Investment Research Advisors Inc. increased its stake in Cardinal Health by 86.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 69,423 shares of the company’s stock valued at $6,998,000 after purchasing an additional 32,250 shares during the last quarter. Pinebridge Investments L.P. raised its stake in Cardinal Health by 237.7% during the fourth quarter. Pinebridge Investments L.P. now owns 171,530 shares of the company’s stock worth $17,290,000 after acquiring an additional 120,740 shares during the period. Tobam lifted its holdings in Cardinal Health by 773.4% in the first quarter. Tobam now owns 49,111 shares of the company’s stock worth $5,496,000 after acquiring an additional 43,488 shares during the last quarter. Nomura Holdings Inc. boosted its stake in Cardinal Health by 12.3% in the fourth quarter. Nomura Holdings Inc. now owns 220,661 shares of the company’s stock valued at $22,243,000 after acquiring an additional 24,222 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Cardinal Health by 101.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company’s stock valued at $36,010,000 after purchasing an additional 161,656 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Cardinal Health stock opened at $110.76 on Friday. The company has a 50 day moving average price of $104.93 and a 200 day moving average price of $104.07. Cardinal Health, Inc. has a 52 week low of $85.82 and a 52 week high of $116.05. The firm has a market capitalization of $26.98 billion, a price-to-earnings ratio of 49.23, a P/E/G ratio of 1.55 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last issued its earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.74 by $0.10. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The firm had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. During the same period last year, the business earned $1.55 earnings per share. Cardinal Health’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities analysts forecast that Cardinal Health, Inc. will post 7.61 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a dividend of $0.506 per share. The ex-dividend date is Tuesday, October 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 dividend on an annualized basis and a yield of 1.83%. Cardinal Health’s dividend payout ratio is 89.78%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Wells Fargo & Company increased their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a report on Thursday, August 15th. UBS Group boosted their target price on shares of Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Citigroup dropped their price target on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Finally, JPMorgan Chase & Co. boosted their price objective on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $119.36.

Insider Activity at Cardinal Health

In other Cardinal Health news, insider Michelle D. Greene sold 4,000 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.85, for a total value of $435,400.00. Following the transaction, the insider now owns 19,242 shares of the company’s stock, valued at $2,094,491.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the completion of the transaction, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michelle D. Greene sold 4,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.85, for a total value of $435,400.00. Following the completion of the transaction, the insider now owns 19,242 shares in the company, valued at $2,094,491.70. The disclosure for this sale can be found here. Insiders sold 113,963 shares of company stock valued at $12,379,980 in the last three months. Corporate insiders own 0.15% of the company’s stock.

Cardinal Health Company Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.